The Department of State Services (DSS) has reportedly taken into custody Benjamin Fakunle, the outgoing Finance Director of the Central Bank of Nigeria (CBN).

Fakunle was reportedly apprehended on Wednesday during his retirement celebration in Abuja and has remained in DSS detention since then….CONTINUE READING

As reported by Business Day, the retired CBN official’s detention is connected to his role in the recently released seven-year audited financial statements of the apex bank.

Allegations have arisen that these financial statements did not adhere to the prescribed accounting and reporting standards.

According to reports, Fakunle is currently undergoing questioning regarding the utilization of accounting guidelines that purportedly deviated from the provisions of the International Financial Reporting Standards (IFRS) in preparing the published CBN accounts. Additionally, he will need to clarify why an alleged sum of N401 million was disbursed for the document, which is said to contravene the rules established by the Financial Reporting Council of Nigeria.

Fakunle is one of the high-ranking CBN officials who have been arrested and are under interrogation as part of the investigations conducted by Special Investigator Jim Obazee. Obazee, appointed by President Bola Tinubu in July, is tasked with scrutinizing alleged financial irregularities within the CBN during the tenure of suspended Governor Godwin Emefiele.

Governor Emefiele has remained in DSS custody since his arrest on June 10, 2023, the day following his suspension from office by President Tinubu.